Steve Sosnick, Interactive Brokers’ chief strategist, discusses the market dynamics amid a closely watched earnings season.
Investors found some solace in the solid earnings performance of the flagship tech giants such as Amazon (AMZN), Facebook (FB) and Google parent Alphabet (GOOGL).
Photo Credit: Markus Trienke via Flickr Creative Commons
Thank god we nipped that one in the bud.
A careful read of technical indicators speaks volumes about the market.
Nvidia’s valuations today closely resemble Cisco at its peak in 2000, with a price-to-sales ratio of 42x, making it hard to make the math work for Nvidia stock to perform well from its current level.
As I’ve discussed quite a bit recently, the recent sell-off in the U.S. Treasury arena seems to underscore the point that the money and bond markets have finally ‘come to the Fed’ and accepted this higher-for-longer theme.
